10:54 AM EST, 01/22/2025 (MT Newswires) -- Rail Vision ( RVSN ) said Wednesday it signed a binding memorandum of understanding with Sujan Ventures to potentially supply safety systems for locomotives in the Indian market.

Sujan Ventures, a division of the Sujan Group, will lead projects to launch Rail Vision's ( RVSN ) safety systems in the country, Rail Vision ( RVSN ) said.

Rail Vision ( RVSN ) said that it will initially conduct a trial of its systems. After approval by Sujan Ventures' clients, the companies plan to proceed with a definitive agreement to develop a collaboration to position Rail Vision's ( RVSN ) technologies for inclusion in tenders and projects to improve rail safety in the country.

Sujan Ventures will make an initial upfront payment to Rail Vision ( RVSN ), as well as additional payments upon the completion of certain milestones, Rail Vision ( RVSN ) said, without providing financial details.

Rail Vision ( RVSN ) shares were up 6.3% in recent trading.

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